Rose P Petroleum p plc Corpor
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e pres esentation
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(AIM: ROSE)
OIL & GAS EXPLORATION
www.rosepetroleum.com www.rosepetroleum.com www.rosepetroleum.com 14 May 2018
Rose P Petroleum p plc Corpor orate p e pres esentation on - - PowerPoint PPT Presentation
Rose P Petroleum p plc Corpor orate p e pres esentation on (AIM: ROSE) OIL & GAS EXPLORATION 14 May 2018 www.rosepetroleum.com www.rosepetroleum.com www.rosepetroleum.com Disclaimer The information contained in this presentation
OIL & GAS EXPLORATION
www.rosepetroleum.com www.rosepetroleum.com www.rosepetroleum.com 14 May 2018
The information contained in this presentation (the "Presentation") has been prepared by and is the sole responsibility of the directors of Rose Petroleum PLC (the "Company"). This Presentation is not intended to be, and should not be construed as, any advice on the merits of, or any recommendation to any recipient or reader of this document in relation to, the purchase of securities in the Company. Recipients and readers of this document should seek their own independent legal, investment and tax advice as they see fit. The content of the Presentation has not been approved by an authorised person within the meaning of the Financial Services an d Markets Act 2000 (“FSMA). Reliance on the presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. Any person who is in any doubt about the subject matter to which the presentation relates should consult a person duly authorised for the purposes of FSMA who specialises in the acquisition of shares and other securities . The Presentation and any further confidential information made available to any recipient, either verbally or in writing, mus t be held in complete confidence and documents containing such information may not be reproduced, used or disclosed without the prior written consent of the Company. The Presentation shall not be copied, reproduced or distributed in whole or in part at any time. The information contained in the Presentation is not intended to be viewed by, or distributed or passed on (directly or indirectly) to, and should not be acted upon by any class of person other than (i) qualified investors (within the meaning of the Prospectus Directive 2003/71/EC) and (ii) investment professionals falling within Article 19(5) and high net worth companies falling within Article 49(2) respectively of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (or persons to whom it may otherwise be lawfully communicated) and may only be supplied, if permitted by applicable law, outside the United Kingdom to professionals or institutions whose ordinary business involves them engaging in investment activities (together "Relevant Persons"). Persons who are not Relevant Persons should not attend the Presentation or rely on or act upon the matters communicated at the Presentation. The Presentation does not constitute a prospectus relating to the Company . It has not been approved by the Financial Conduct Authority, nor does it constitute or form part of any offer to sell, or the solicitation of any such offer or invitation to subscribe for, underwrite or buy, any shares in the Company or any of its affiliates to any person in any jurisdiction, nor shall it nor any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. No reliance may be placed for any purpose whatsoever on the information contained in the Presentation or any assumptions made as to its completeness. The information contained in the Presentation, which has not been independently verified, is for background purposes only and is subject to verification, updating, revision and amendment and completion without notice. This Presentation does not purport to be all-inclusive or to contain all the information that an investor may desire to have in evaluating whether or not to make an investment in the Company. Certain statements in the Presentation are forward-looking statements, and the Presentation itself has been based upon a number of assumptions, forecasts and projections which by their nature are forward looking. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "intends", "estimates", "anticipate", "plans" or "assumes" or similar expressions, or by discussions of strategy that involve risk and uncertainties. By their nature, forward-looking statements, assumptions, forecasts and projections involve a number of risks and uncertainties, and in some cases are based on estimates and incomplete information, that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements or by the Presentation as a whole. These risks and uncertainties, and the impact they have on the assumptions, forecasts and projections contained in the Presentation, could adversely affect the outcome and financial effects of the plans and events described herein. No representation or warranty, express or implied, is made or given by or on behalf of the Company or its directors or any ot her person as to the accuracy, completeness or fairness of the information or opinions contained in this document and no responsibility or liability is accepted to any recipient for any such information or opinions. Notwithstanding this, nothing in this paragraph shall exclude liability for any such representation or warranty made fraudulently. The distribution of this document in certain jurisdictions may be restricted by law and therefore persons into whose possessi on this document comes should inform themselves about and observe any such restrictions. Any such distribution could result in a violation of the law of such jurisdictions. Neither this document nor any copy of it may be taken or transmitted into the United States, Canada, Japan and the Republic of Ireland or distributed to the United States, Canada, Japan or the Republic of Ireland or to any national, citizen or resident thereof or any corporation, partnership or other entity created or organised under the laws thereof.
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earning into 75% working interest (“WI”) in approx. 80,000 acres (125sq miles) in the Paradox Basin, Utah, U.S.A.
Recoverable Resources of 38mmboe gross mean in Clastic 21 only
CLEAR STRATEGIC FOCUS AND SIGNIFICANT VALUATION UPSIDE POTENTIAL
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Rose acreage Prolific Rocky Mountain Basin
550mmbo and 1.2 TCF
just 365 metres east of Rose’s acreage
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Rose Acreage 28-11 Proven Production Cane Creek Field
Exploration and Production
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Rose Acreage 28-11 Proven Production Cane Creek Field
production
thrust faults
drives well productivity
7 Elongate Compression al feature Elongate Compressional feature Thrus Fault Thrust fault Curvature Curvature From Watkins et al 2017
8 Elongate Compressional feature Thrust fault Curvature From Watkins et al 2017
Curvature Curvature Curvature
drilling (~US$1mm saving for initial wells)
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Top Paradox Fm Top Cane Creek cycle Base Cane Creek cycle
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Operational Progress to date
High resolution, 3D seismic data acquired, processed and
Interpreted
Clastic 21 reservoir geophysical interpretation completed ~60 well locations identified First well locations selected and Permitting commenced
x2
Completed £1m fund raise at 3.25p Updating CPR in progress Conceptual Field Development Plan completed Farm-In process commenced
Upcoming Milestones (News flow)
NOS already submitted
Process underway
Clastic 21 only (CPR being updated)
production from Cane Creek Field direct to the South
bopd production increase 2012-2014 Cane Creek Field)
CLEAR STRATEGIC FOCUS AND SIGNIFICANT VALUATION UPSIDE POTENTIAL
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US E&P VALUATION COMPARISONS mmboe EV/boe Net acres Production Reserves mmboe Prospective Prospective + Market Prospective + EV Stock Symbol Price $ Basin/play thous ands mboe/d 1P 3P resources reserves cap $m EV $m 1P 3P reserves $/acre Rose Pet ROSE.AIM 4.23Parx 80 463 463 5 4 50 Bonanza Creek BCEI 33.39DJN, CVS 93 16.8 102 684 694 6.8 7462 Carrizo O&G CRZO 24.49EF, Perm 122 62.4 262 2010 3620 13.8 29672 Concho Res CXO 157.69Perm 640 267 1216 12200 13416 31614 35601 29.3 2.7 55627 Continental Res CLR 68.06Bakk, Anad 1784 293 1331 24901 30969 23.3 17359 EP Energy EPE 2.61Un, EF, Perm 455 80.1 392 556 4572 11.7 10048 Goodrich Pet GDP 13.07Hayn, EF, TMS 112 13.3 71 214 285 146 176 2.5 0.6 1571 High Point Res HPR 6.55DJN 151 31.5 86 1389 1782 20.7 11801 Parsley Energy PE 32.49Perm 215 103 416 10301 12918 31.1 60084 PDC Energy PDCE 59.99DJN, Perm 160 110 453 3963 5076 11.2 31725 Pioneer Res PXD 201.52Perm, Eagle Ford 1479 312 985 33685 34700 35.2 23462 Resolute Energy REN 34.44Perm 21 31 53 771 1331 25.1 63381 Sanchez Energy SN 3.25EF 285 80.6 363 277 2475 6.8 8684 SilverBow Res SBOW 30.71EF, Perm 102 26 166 360 605 3.6 5931 Whiting Pet WLL 46.48Bakk, DJN 647 128 618 4214 7044 11.4 10887 Source: Allenby Capital, Thomson Reuters and company reports Basin and play key: Parx Paradox Basin Utah, DJN Denver-Julesburg Basin Colorado/Wyoming, CVS Cotton Valley sandstone Arkansas/Texas, EF Eagle Ford Texas, Perm Permian Basin Texas/New Mexico (Midland and Delaware Basins), Bakk Bakken Williston Basin North Dakota, Anad Anadarko Basin SCOOP and START plays Oklahoma, Un Unita Basin Utah, Hayn Haynesville shale play Arkansas, Tuscaloosa Marine Shale, Note: Prices at May 10, 2018 status, Rose share price converted at £1=$1.35 Concho technical and financial data are shown on a pro-forma basis including the RSP Permian acquisition. Rose Petroleum's resources reflect Ryder Scott's un-risked estimates for the Parodox property of 1.1bn barrels of oil and 2.2 tcf of gas. Un-risked prospective resources of 1.49 bn boe have been risked using Ryder Scott's COS of 31% contained in the 2014 CPR.
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Rose Petroleum plc Matthew Idiens (CEO) Chris Eadie (CFO) First Floor Newmarket House Market Street Newbury Berkshire RG14 5DP United Kingdom +44 (0)20 7225 4595
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Non-Exec Chairman – Phillip Jeffcock
commercial real estate for Barclays Wealth. He also held senior positions at Goldman Sachs and Royal Bank of Scotland Plc
(Hons) from the Cass Business School, London
Finance Director - Chris Eadie
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CEO – Matthew Idiens
Director (O&G) – Kelly Scott
the globe
among others
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Petroleum Engineer - Consulting Drilling Manager
100b/d to 3,500b/d in 18 months (2012-2014)
David List - Consulting Geophysicist
Colorado School of Mines
the Paradox Basin for 9 years
geo models for development plans
Todd Fockler - Consulting Field Geophysicist
locations
acquisition in basins across the US
Gregor Maxwell - Technical Advisor to the Board
the University of Aberdeen
in field development, exploration and business development
portfolio and onshore US field development